Upon checking the mail today, I thought that a couple of new phone books had come.
Turns out they were the prospectus. One copy for me, one for a minor custodial account.
Just holding this massive tome in my hand is enough to make me think: if Sally Investor were unfamiliar with MTSN, and she was thinking about investing in either MTSN or another company in the sector, which would she do? The answer is that she would invest in the other company and go to bed at the usual time. Otherwise she'd have to do like Eric and me, and stay up late trying to sort through this.
Here's my problem: after reading page 17, I don't know what the conditions are that would trigger various required penalty payments by MTSN. The details aren't spelled out on page 17, and I can't find them elsewhere either.
As a result, I don't know whether the company is presently in grave risk of losing half its cash due to its low stock price, or whether there's nothing to worry about at all.
I am tempted to just vote against the acquisitions, but I'm afraid that such a vote, if it were successful, might trigger some of the cash penalty payments.
If the prospectus allowed me to do so, I would vote to rewind the whole situation so that we were back to the old MTSN by itself, plain and simple. It was a situation I understood. |
